Superdrug has grown its workforce by over 600 roles and reported a pre-tax profit of £136.8 million, an increase from £111.6 million the previous year. This growth occurred despite rising tax burdens and wage costs due to changes in the National Minimum Wage. The retailer's expanded headcount, which rose from 13,845 to 14,479, coincided with 13 new store openings. Revenues also increased from £1.5 billion to £1.6 billion. However, consumer sentiment is cautious, affected by cost-of-living pressures and price sensitivity.
Superdrug's revenues rose from £1.5 billion to £1.6 billion, demonstrating growth amid a challenging retail environment influenced by rising costs and cautious consumer sentiment.
Despite increasing tax burdens and wage costs, Superdrug expanded its workforce by over 600 roles and reported a significant rise in pre-tax profits.
Government-driven changes to the National Minimum Wage have compounded wage inflation, leading to pressures on operating margins for retailers, according to Superdrug's board.
Looking forward, Superdrug remains cautious about consumer spending habits due to the ongoing cost-of-living pressures that have made customers more price sensitive.
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